Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsFor paragraph 6(1)(b) of the Code:
(a) credit fees and charges imposed or provided for under a contract are taken to include a fee or charge specified in the following table if the fee or charge is a credit fee or charge within the meaning of the definition of credit fees and charges in section 204 of the Code; and
(b) the fee or charge is taken to be included whether or not it is payable under the contract.
Fees and charges | |
Item | Fee or charge |
1 | A fee or charge payable in connection with the supply of the amount of credit provided under the contract. |
2 | A fee or charge payable in connection with the consumer receiving an amount of credit provided, under the contract, as cash or by transfer to an account. |
3 | A fee or charge payable in connection with the management or repayment of the amount of credit provided under the contract. |
Example 1: A fee for providing the credit through a stored value card.
Example 2: A fee or charge for obtaining a membership (however described) which is a prerequisite to the debtor obtaining access to a service to receive funds paid by cheque as cash (whether or not with other services).
Example 3: Account keeping fees (however described).